Auto Auction History; A Timeline
ShipCarsNow, a premier auto transport company, created an eye-catching graphic to document the history of auto auctions and salute the National Auto Auction Association (NAAA) for its progress and leadership over the years.
Few industry outsiders realize the size, scope and strategic importance the wholesale motor vehicle auction industry plays in fueling the U.S. auto industry and ultimately the national economy. From its humble beginning in a 50-car auction, to a flourishing industry where the average auction operates seven lanes and employs over 140 people, the U.S. wholesale auction industry has become a critical part of today's retail automotive market.
The first official U.S. wholesale auto auction was attributed to Rawls Auto Sales in 1938, followed by Manheim and Akron Auto Auctions in 1945. Ten years later, C.B. Drake, owner of the Drake Auto Auction in Decatur, Illinois, invited a group of twenty-five auto auction owners from six Midwestern states to form the first auto auction association, called the "National Auto Auction Protection Association" (NAAPA). NAAPA set up guidelines to prevent frauds in the auto auction market. In 1954, the word "Protection" was dropped from the Association's title to reflect a wider range of goals in the industry, becoming the existing National Auto Auction Association we know today.
In 2011, National Auto Auction Association (NAAA) North American member auctions moved almost 14.6 million vehicles through their lanes at a sales rate of 60%. Over 8.4 million vehicles were sold at an average sale price of $9,614, representing a combined gross value of $81 billion. Today's auctions are progressing rapidly to lead the auction industry into the 21st century with more e-commerce technology and online sales tools, making it easier to buy and sell cars online, throughout in the U.S.
ShipCarsNow is one of the top preferred providers of auto auction transport serving dealers and auctions nationwide. For more information about nationwide and international auto transportation, visit www.shipcarsnow.com or call toll free at 1-866-207-3360.
